2024

Bitcoin

<h4><strong>2024 has turned out to be a record year for the US SEC in its enforcement against cryptocurrency firms. </strong></h4> 
<p>The US regulator has reportedly imposed around $4.7 billion worth of fines on crypto executives and companies this year. Let’s explore more about this news from the SEC.</p> 
<h5><strong>$4.6B Terraform Labs Settlement Boosts 2024 Crypto Fines</strong></h5> 
<p>The bulk of this figure came from the <a href="https://www.courtlistener.com/docket/66820843/securities-and-exchange-commission-v-terraform-labs-pte-ltd/" target="_blank" rel="noopener">SEC’s $4.6 billion settlement</a> with Do Kwon’s Terraform Labs a few months ago. The data, shared by <a href="https://socialcapitalmarkets.net/crypto-trading/crypto-sec-fines-penalties/" target="_blank" rel="noopener">Social Capital</a>, claims the SEC has collected over $7.2 billion in fines since it began overseeing the industry in 2013.</p> 
<p>The SEC has carried out a total of 11 enforcement actions against crypto in 2024. The regulator has bagged a 3,018% increase from the $159.3 million in fines it secured in 2023. Interestingly, the SEC has taken <a href="https://www.cornerstone.com/wp-content/uploads/2024/01/SEC-Cryptocurrency-Enforcement-2023-Update.pdf" target="_blank" rel="noopener">19 fewer actions</a> against crypto firms in 2024.</p> 
<p><img decoding="async" class="alignnone size-full wp-image-150501" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/09/SEC-crypto-fines.webp" alt="" width="1262" height="743" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/09/SEC-crypto-fines.webp 1262w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/SEC-crypto-fines-300x177.webp 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/SEC-crypto-fines-1024x603.webp 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/SEC-crypto-fines-768x452.webp 768w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/SEC-crypto-fines-713x420.webp 713w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/SEC-crypto-fines-696x410.webp 696w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/SEC-crypto-fines-1068x629.webp 1068w" sizes="(max-width: 1262px) 100vw, 1262px"></p> 
<h5><strong>Breakdown of Fines</strong></h5> 
<p>The total fines for 2024 include several parts such as forfeiture, disgorgement, civil penalties, settlements, and interest. The report observed a shift in the regulator’s enforcement approach. The SEC appears to focus on fewer but bigger cases. The regulator mostly targets cases that can set examples for the whole industry.</p> 
<figure id="attachment_150502" aria-describedby="caption-attachment-150502" style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" class="wp-image-150502 size-full" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/09/SEC-FINES-2.png" alt="" width="1600" height="846" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/09/SEC-FINES-2.png 1600w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/SEC-FINES-2-300x159.png 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/SEC-FINES-2-1024x541.png 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/SEC-FINES-2-768x406.png 768w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/SEC-FINES-2-1536x812.png 1536w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/SEC-FINES-2-794x420.png 794w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/SEC-FINES-2-696x368.png 696w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/SEC-FINES-2-1068x565.png 1068w" sizes="(max-width: 1600px) 100vw, 1600px">
 <figcaption id="caption-attachment-150502" class="wp-caption-text">
  Source: <a href="https://socialcapitalmarkets.net/crypto-trading/crypto-sec-fines-penalties/" target="_blank" rel="noopener">Social Capital</a>
 </figcaption>
</figure> 
<p>The SEC has <a href="https://www.altcoinbuzz.io/cryptocurrency-news/opensea-faces-sec-threat-to-nfts/" target="_blank" rel="noopener">scored</a> some heavy fines in recent years. For example, it fined Telegram $1.24 billion. This included $18.5 million in civil penalties and $1.2 billion paid back to investors. The SEC also fined GTV Media Group, Ripple Labs, and John and Tina Barksdale over $100 million each.</p> 
<p><a href="https://www.patreon.com/altcoinbuzz" target="_blank" rel="noopener"><img decoding="async" src="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner.jpg"></a></p> 
<p><iframe title="Crypto Flash Crash! What will happen next?" width="696" height="392" src="https://www.youtube.com/embed/9aet8IDcdy0?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe></p> 
<h6><strong>Disclaimer</strong></h6> 
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p> 
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/2024-sec-earnings-from-crypto-fines/">2024 SEC Earnings From Crypto Fines</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.</p>

2024 SEC Earnings From Crypto Fines

Altcoin Buzz

Other articles published on Sep 12, 2024

Succinct Labs And Optimism in Alliance to Solve ZK Rollups

Flowcarbon Issues Refunds to Investors After Delayed GNT Token Launch

Solana Recovers Despite Market Challenges

Can Toncoin Price Rally 80% Amid T-Fund Launch?

Arthur Hayes Announces the Altcoin He Expects to Gain 180 Percent Rise! "Bitcoin Will Rise This A...

New Viral Presale Coin With 100x Potential Set To Rival Solana and Cardano

Join our free newsletter for daily crypto updates!